Meaning of the word "a beggar can never be bankrupt" in English

What does "a beggar can never be bankrupt" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

a beggar can never be bankrupt

US /ə ˈbeɡ.ər kæn ˈnev.ər bi ˈbæŋ.krʌpt/
UK /ə ˈbeɡ.ə kæn ˈnev.ə bi ˈbæŋ.krʌpt/
"a beggar can never be bankrupt" picture

Idiom

a person who has nothing to lose cannot be made any poorer or suffer further financial loss

Example:
He isn't worried about the stock market crash because a beggar can never be bankrupt.
Since he lost his job and house, he figured a beggar can never be bankrupt and started over with no fear.